Pyx Health, a social health platform, has acquired healthy food company FarmboxRx, the companies announced on Tuesday. The acquisition was fueled by a $47.5 million investment from S2G Investments and TT Capital Partners.
Tucson, Arizona-based Pyx Health works with health plans to support members struggling with loneliness. Members receive unlimited phone calls for companionship, as well as assistance with resources for physical, social and mental health needs. They also gain access to a mobile app that has an empathetic chatbot, self-guided wellness activities, interactive activities and reminders for medication.
Boston-based FarmboxRx, meanwhile, contracts with payers (primarily Medicaid and Medicare programs) to deliver produce boxes, cooking kits, educational materials and pantry items to patients’ doors.
The terms of the deal were not disclosed. However, acquiring FarmboxRx will help Pyx Health tackle food insecurity, a challenge many of its members struggle with.
“By offering fresh food to our members, Pyx Health seeks to establish a meaningful and trusting relationship. Research shows that members who trust the healthcare system are more likely to engage in healthy habits, like preventative care, that can improve their health outcomes,” said Cindy Jordan, CEO and co-founder of Pyx Health, in an email. “These healthy habits can reduce the frequency of costly and unnecessary visits to the ER down the line—a win-win for health plans and their members.”
FarmboxRx also recently launched a platform called Drivers Health, which helps address social determinants of health and feeds data on members’ needs back to health plans. This platform will be a “valuable dovetail to our own in-progress development of an AI-enabled continuous engagement platform and omnichannel member experience,” Jordan said.
Pyx Health wasn’t the first company to offer to buy FarmboxRx, according to FarmboxRx’s CEO, Ashley Tyrner-Dolce. The company was created out of Tyrner-Dolce’s own experience relying on food stamps and Medicaid, which made her especially intentional in finding the right partner to carry out the company’s mission: “empower individuals to live their healthiest lives by addressing the unmet social needs standing in the way of their well-being,” she said.
“Over the years, I received many offers to sell the company, but none felt like the right fit—until now,” she said in an email. “Pyx Health shares our mission at its core, making them the ideal organization to build on the foundation we’ve created.”
Tyrner-Dolce said she will remain “closely involved” to support the acquisition, but will step into an advisory role while Jordan will be CEO of the combined company. Tyrner-Dolce plans to continue doing food policy work, she added.
In selling FarmboxRx to Pyx Health, Tyrner-Dolce’s goal is to expand its collective impact, she said.
“By combining FarmboxRx’s expertise in addressing non-medical drivers of health—like food insecurity—with Pyx Health’s innovative approach to tackling loneliness and supporting mental health, we’ll be able to reach more people, deepen member engagement, and drive stronger health outcomes, especially among vulnerable populations,” she said. “This isn’t just about scaling our reach; it’s about expanding and enhancing the support we provide to address the full spectrum of social drivers of health.”
Photo: AndreyPopov, Getty Images
